Insurance

Microsoft and its partners provide the insurance industry with solutions to drive customer acquisition and retention for organic growth, attract new generations of customers and employees through social media and mobile channels, gain greater insight into financial risks and business performance, and modernize core systems to improve IT cost ratios while driving distribution channel or new product development excellence.

  • Customer Acquisition & Retention
  • Social & Mobile Channels
  • Risk Management & Compliance
  • Core Modernization
  • With net new premium being hard to attract, the drive for organic growth is imperative. Insurers need to better service their existing customers to avoid attrition while helping producers to identify the next best product to up-sell or cross-sell. They need to gain a single view of all customer interactions, understand profitability per customer, increase the relevance of offers, and ensure a seamless customer service experience across all channels. Microsoft supports insurers with CRM and enterprise business productivity solutions to improve sales performance, build customer loyalty through improved service, and optimize efficiency through streamlined workflow and operations.

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  • As consumers enjoy the benefits of their digital lifestyle, they expect similar experiences from their insurance providers. Insurance carriers need to provide a seamless and contextual experience to their customers across all channels and devices. At the same time they need to optimize employee productivity, communication and collaboration through internal social media to improve service levels and sales performance. Microsoft supports insurance carriers with solutions to drive new profit streams, new processes and improved customer experiences while enabling them to be present in the financial lives of their customers any time, any place, across any channel or device.

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  • The economic situation, catastrophe environments and changes to regulatory regimes are prompting revolutionary changes to risk management. Insurers need a higher level of sophistication in risk modelling and analytics to measure their entire exposure – from market volatility to mortality, catastrophe, and fraud. Microsoft supports insurance carriers with partner-led solutions that help speed and improve risk modelling, share that risk-based data across the business, and share risk practices inside and outside of the organization, as needed.

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  • With continuing soft markets, increased competition, a tough economy, and demanding producers and customers, it is critical to optimize channel strategies and fuel innovation in new product development. However, insurers are often faced with a complex legacy core system environment that is brittle, lacks agility and is extremely expensive to maintain. Microsoft supports insurance carriers with a high-performance, mission-critical platform that can power core systems such as policy administration, billing and claims. These resulting core systems help improve IT cost ratios while providing the flexible, configurable foundation needed for business transformation. The results include faster new product development, improved channels, and the ability to respond more quickly to business’ demands on IT.

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